Fintech Focus For December 18, 2020

Quote To Start The Day: Our fundamental work shows that bitcoin should be worth around $400,000.

Source: Scott Minerd

One Big Thing In Fintech: Robinhood Markets will pay $65 million to settle allegations that it failed to properly inform clients it sold their stock orders to high-frequency traders and other firms, putting a major compliance headache behind the brokerage even as new ones emerge.

Source: Bloomberg

Other Key Fintech Developments:

• Coinbase filed for a public offering.
• GoCardless nearing $1B valuation.
• QuantaVerse eyes financial crimes.
• Ramp secures $30M for card tech.
• Credit Karma added Karma Drive.
• AppBrilliance expands leadership.
• Razer plans to offer BNPL services.
• NBA star tapped Bison Trails tech.
• Paxos raises $142M in a Series C.
• Clearpool founder to direct InvestX.
• American Express stakes FalconX.
• Why MassMutual will buy a fintech.
• Crypto cards facing off regulations.
• Surveillance tech demand growing.
• State Street launches data platform.
• Arcadier, Rapyd team on payments.

Watch Out For This: Greater Los Angeles is emerging as America’s hardest hit metropolitan area as Covid-19 sweeps across California like never before.

Source: Bloomberg

Interesting Reads:

• Who is counted as a retail investor?
• NOIA switched name amid growth.
• StockX raised $275M in a Series E.
• Takeaways: McConaughey’s book.
• Google hit with a third antitrust suit.
• China’s island bases need attention.
• Analyzing the state of stock options.

Market Moving Headline: The path of the virus is unknown, and the economic healing process is likely to be staggered. This kind of uncertainty can cause anxiety around your investments, but we find comfort in areas where we have more visibility. In our view, monetary policy, the fundamental driver of the business cycle, will remain supportive for the foreseeable future. Interest rates are likely to stay low until labor markets have fully healed and inflation has at least met, or exceeded, central bank targets. The nascent recovery has already found some momentum, and fiscal stimulus should continue to provide further support (failure to provide sufficient support is a key risk to economic healing).

Source: JPMorgan